SINA and E-House Join Forces to Build the Largest Real Estate Portal in China

SHANGHAI, China, Feb. 24 /Xinhua-PRNewswire-FirstCall/ -- SINA Corporation
(Nasdaq GS: SINA), a leading Internet portal in China, and E-House (China)
Holdings Limited (NYSE: EJ), a leading real estate services company in China,
jointly held a press conference today to announce the formation of a new
venture to build the largest online real estate portal in China. SINA is
spinning off its real estate channel ( www.house.sina.com.cn ) and home
decoration channel ( www.jiaju.sina.com.cn ) and contributing the
related online advertising business into the new company, while E-House is
providing exclusive license of its proprietary CRIC database to the new
company and will develop certain online products and related fee-based
services for the new company. SINA is the majority shareholder of the new
company.
SINA's real estate channel ( www.house.sina.com.cn ) and home
decoration channel ( www.jiaju.sina.com.cn ) have for years been the
websites of choice for many Internet users in China to obtain information on
property sale and lease listings as well as home improvement and home
furnishing. E-House's proprietary CRIC database system contains detailed
information and transaction data on China's real estate sector including land
and residential, office and commercial buildings in 30 major cities in China.
The CRIC database system currently has a customer base of over 5,000 real
estate developers in China. Combining the expertise and resources of two
leading companies in their respective industries, the new venture will make
available a comprehensive database of real estate information and related
online housing products to Chinese Internet users and allow SINA real estate
vertical to quickly extend its reach and influence from several major cities
to nationwide coverage.
"This partnership is an extension of SINA's pursuit to provide the best
quality content and services to high-end Internet users in China by co-
operating with industry leaders in vertical areas," said Charles Chao,
President and CEO of SINA. "E-House not only brings to the partnership an
expansive database of localized real estate data, a must-have for anyone
considering a real estate transaction in China, but also lends valuable
industry insights and a nationwide network of real estate developers that will
be instrumental in building the largest real estate portal in China."
"We have spent years building our proprietary CRIC database of
comprehensive real estate information in China, which currently is being
utilized mainly by real estate developers," said Xin Zhou, CEO of E-House.
"Our joint venture with SINA represents an important step to realize the
commercial potentials of the database and will allow millions of real estate
consumers in China easy and immediate access to valuable information.
Partnering with an Internet leader like SINA is clearly a winning choice, as
SINA can provide an existing, strong footprint in China's real estate industry
as well as unmatched brand recognition, huge portal traffic and high-end user
base."
About SINA
SINA Corporation (Nasdaq: SINA) is a leading online media company and
value-added information service (VAS) provider for China and for global
Chinese communities. With a branded network of localized web sites targeting
Greater China and overseas Chinese, SINA provides services through five major
business lines including SINA.com (online news and content), SINA Mobile
(mobile value-added services), SINA Community (community-based services and
games), SINA.net (search and enterprise services) and SINA E-Commerce (online
shopping). Together these provide an array of services including region-
focused online portals, mobile value-added services, search and directory,
interest-based and community-building channels, free and premium email, online
games, virtual ISP, classified listings, fee-based services, e-commerce and
enterprise e-solutions.
About E-House
E-House (China) Holdings Limited ("E-House") (NYSE: EJ) is a leading real
estate services company in China. Since its inception in 2000, E-House has
experienced rapid growth and is now China's largest real estate agency and
consulting services company with presence in more than 30 cities. E-House
provides primary real estate agency services, secondary real estate brokerage
services and real estate consulting and information services, and has received
numerous awards for its innovative and high quality services, including
"China's Best Company" from the National Association of Real Estate Brokerage
and Appraisal Companies. E-House believes it has the largest and most
comprehensive real estate database system in China, providing up-to-date and
in-depth information covering residential and commercial real estate
properties in all major regions in China. For more information about E-House,
please visit www.ehousechina.com .
SINA's Safe Harbor Statement
This announcement contains forward-looking statements that relate to,
among other things, SINA's strategic and operational plans. SINA may also make
forward-looking statements in the Company's periodic reports to the U.S.
Securities and Exchange Commission, in its annual report to shareholders, in
its proxy statements, in its offering circulars and prospectuses, in press
releases and other written materials and in oral statements made by its
officers, directors or employees to third parties. SINA assumes no obligation
to update the forward-looking statements in this release and elsewhere.
Statements that are not historical facts, including statements about the
Company's beliefs and expectations, are forward-looking statements. Forward-
looking statements involve inherent risks and uncertainties. A number of
important factors could cause actual results to differ materially from those
contained in any forward-looking statement. Potential risks and uncertainties
include, but are not limited to, SINA's limited operating history, the
uncertain regulatory landscape in the People's Republic of China, the changes
by mobile operators in China to their policies for MVAS, the Company's ability
to develop and market other MVAS products, fluctuations in quarterly operating
results, the Company's reliance on online advertising sales and MVAS for a
majority of its revenues, the Company's reliance on mobile operators in China
to provide MVAS, any failure to successfully develop and introduce new
products and any failure to successfully integrate acquired businesses.
Further information regarding these and other risks is included in SINA's
Annual Report on Form 10-K for the year ended December 31, 2006 and its other
filings with the Securities and Exchange Commission.
E-House's Safe Harbor Statement
This announcement may contain forward-looking statements. These statements
are made under the "safe harbor" provisions of the U.S. Private Securities
Litigation Reform Act of 1995. These forward-looking statements can be
identified by terminology such as "will," "expects," "anticipates," "future,"
"intends," "plans," "believes," "estimates," "confident" and similar
statements. Statements that are not historical facts, including statements
concerning E-House's beliefs, forecasts, estimates and expectations, are
forward-looking statements. Forward-looking statements involve inherent risks
and uncertainties. Information regarding these risks and uncertainties is
included in E-House's public filings with the Securities and Exchange
Commission. All information provided in this press release is as of February
25, 2008, and E-House undertakes no duty to update such information, except as
required under the applicable law.
For more information, please contact:

Cathy Peng
SINA Investor Relations
Tel: +86-10-8262-8888 x 3112
Email: ir@staff.sina.com.cn

Kate Kui
E-house (China) Investor Relations
Tel: +86-21-5298-0219
Email: katekui@ehousechina.com

SOURCE E-House (China) Holdings Limited

Cathy Peng, SINA Investor Relations, +86-10-82628888 x 3112, or
ir@staff.sina.com.cn , or Kate Kui, E-house (China) Investor Relations, +86-
21-5298-0219, or tekui@ehousechina.com